Wednesday, February 10, 2010

No wave 3...yet

Today's action didn't start with an acceleration gap, but once price started going, I thought maybe this was it. Then the retracement started, and it was way stronger than it should have been and that gave me my doubts. I'm still going to count this as minuette wave 2 unless price can close above 1092. If that happens, then I think we have a minute wave 1 at 1044 and will be looking to have the minute wave 2 finish somewhere in the 1097/1110 area.
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